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Ardian said to join bidding for Altice's €7bn XpFibre unit. (FS)
Partners said to mull Techem options after TPG’s €6bn bid. (FS)
Sports investor Arctos to focus on US deals after raising $4.1bn fund. (FS)
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Sekisui House, Ltd. , a residential developer that has delivered over two million homes for people around the globe, completed the acquisition of M.D.C., an American home construction company, for $4.9bn.
"We are excited to welcome MDC's management and employees to the Sekisui House team. Today marks a significant advancement of our strategy to expand in the US and bring the value of our philosophies and technology to US homebuilding. With MDC joining our group, we believe that we can become a one-of-a-kind entity in the US by combining Japanese and US technologies, and above all, sharing our passion for providing quality housing," Yoshihiro Nakai, Sekisui House President and CEO.
M.D.C. was advised by Vestra Advisors (led by Richard Moriarty ), Brownstein Hyatt Farber Schreck , Paul, Weiss, Rifkind, Wharton & Garrison LLP (led by Michael Vogel and Robert Schumer) and Collected Strategies (led by Dan Moore ). Sekisui House was advised by MUFG , Moelis & Company , Morrison Foerster (led by Joseph Sulzbach and Randy Laxer ), Collected Strategies and Hearthstone .?
Arcline Investment Management , a growth-oriented private equity firm, completed the acquisition of Kaman Corporation , an American aerospace company, for $1.8bn.
"Kaman is an innovation-driven industry leader with a storied history and a strong portfolio of businesses supporting mission-critical end markets. We look forward to partnering with the Kaman team and supporting the company's continued success and growth as a trusted solutions provider of engineered components and subsystems to critically important programs," Arcline.
Kaman was advised by J.P. 摩根 , Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (led by Maxim Mayer-Cesiano), Wiggin and Dana LLP and Joele Frank (led by Andrew Siegel and Mahmoud Siddig ). JP Morgan was advised by Cravath, Swaine & Moore LLP (led by Minh Van Ngo and Andrew Wark ). Arcline was advised by 摩根士丹利 , Latham & Watkins (led by Navneeta Rekhi and Josh Dubofsky ), 普衡律师事务所 (led by Holly Snow ) and Joele Frank (led by Jonathan Keehner and Erik Carlson ).
Ardian said to join bidding for Altice's €7bn XpFibre unit. (FS)
European private equity firm Ardian is considering a potential offer for a controlling stake in telecom tycoon Patrick Drahi's French fiber company XpFibre , Bloomberg reported.
KKR and Global Infrastructure Partners (GIP) ?are also vying for the business, which builds and operates fiber-to-the-home infrastructure in France. KKR is the most advanced bidder in the process, having started carrying out due diligence on the company earlier this year.?
A deal could value XpFibre, which is owned by Drahi's Altice France, at around €6bn ($6.3bn) to €7bn ($7.4bn) including debt. XpFibre had about $2.6bn of net debt as of 2023. Altice France owns 50.01% of XpFibre, while the balance is held by a consortium majority-led by OMERS Infrastructure that also includes Allianz Capital Partners and AXA Investment Managers Real Assets. Bloomberg News previously reported that KKR and Macquarie Group were shortlisted in the bidding. Deliberations are ongoing and there's no certainty they will result in a deal.
Partners said to mull Techem options after TPG’s €6bn bid. (FS)
Partners Group is considering options for its majority stake in Techem after having received a binding offer from TPG that values the German metering company at more than €6bn ($6.4bn), Bloomberg reported.
Partners Group may decide to keep Techem or float it on the stock market following the bid from TPG’s Rise Climate fund that was supported by Singapore sovereign wealth fund GIC.
Sports investor Arctos to focus on US deals after raising $4.1bn fund. (FS)
Arctos plans to focus on finding more deals in its US home market because of the financial unpredictability of European football, Financial Times reported.
While Arctos was open to working with more teams in Europe, the firm was far more likely to invest in the US where there is “no shortage of opportunities” for generating reliable returns from sport.
“We want to invest behind global brands that have the predictability and the durability and resiliency and the dynamics that are commonplace in North American sports assets. Finding those outside of North America is difficult,” Ian Charles, Arctos Sports Partners Co-Founder and Managing Partner.
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